The Question Of CV Value v's Sale Price

Coming into the Rodney Market with fresh eyes and observing just how many properties have been on the market for years, has been a bit of an eye-opener to me and I am sure locals often question...why? Especially considering we are in, what most people consider, a hot market. 

You may have had a valuation carried out. What was the reason? Was it the bank? A potential buyer? Local Council, or your insurance company? These valuations can differ greatly depending on that purpose.  

The question of the CV comes up more often than not. Owners almost always mention their CV to their real estate agent. Is it to justify their perceived value of what they expect to get on the sale of their property? Properties with CV’s of $660,000 can sell for $1.2M or more. On the flip side, plenty of properties with CV’s of $1.2M are selling in the $600,000’s. Do not depend on the value of your CV. This is a valuation for rates purposes only.

CVs are calculated by algorithms that take into consideration house and land sizes and sales in the area. These calculations do not take into account  the condition of the house, any chattels or any other improvements. Bear in mind, CVs are often very out of date too.

 

 

 

The value of your property is determined by what a BUYER is willing to pay in TODAY’S MARKET based on comparing your property to others currently for sale in the marketplace. In other words, you need to combine your property's CV with other information, like recent sale prices for similar properties in the area to get a clear view of the value of your home. 

What you paid for the property does not affect its value:

*  What the CV is, does not affect the value of your property

 

* The amount of cash you need from the sale does not affect its value

 

          * What you want from your property does not affect its value

 

          * What another real estate agent says your property is worth does not affect its value.

 
Real Estate Agents are marketers, not valuers. Our job is to promote and present your home, provide information and negotiate the highest amount of money we can get from a potential buyer. It is also important that any seller realises that “THE MARKET” is made up of buyers for their home - not the agent. We have no influence over what a buyer will pay. 

Of all the things that will determine whether or not you will sell, it is often not so much the marketing, advertising, signboards or whatever…the main determinant is price. There is a little saying that “there is nothing in real estate, that price cannot cure”. So true! 

“The 4 P’s Rule” If you are marketing your property and it is not selling, check thoroughly for the reason and I guarantee it will be for one of these following reasons: (Actually, your agent should be telling you this anyway) 

Price

Presentation

Position

Promotion

For example, if your property presents well (this includes first class photos), the position is great, it is being promoted well by your agent, then price is your issue.

 

Then again, If your price is right and your presentation and position are great, it could well be a tired listing on the internet that needs promoting either with a boost in position, or better still, an injection of enthusiasm from newspaper advertising.   

It is natural for any seller to want as much as possible for their home and it is our job to get you the absolute maximum the market will pay with the least amount of stress, in the shortest possible time. 

Typically the buyers shop around (research says 14 homes on average) before they choose the home that represents the best value to them. No amount of promotion or advertising will sell your home if it is placed on the market at too high a price.

 

 

 

It is our role to put enough facts in front of you about properties that have sold in the area to allow you to make an informed, qualified decision. 

· Working closely with your agent is important. Get involved, go look at the other homes if necessary and in a lot of cases, it will be crystal clear where your home should be priced

 · If you do not have a price on your property, then you must listen to the market feedback. If you are marketing under Auction or with no price, listen to what the market is saying in terms of where it places your property. Discuss this feedback with your agent and if you eventually do have to put a price on it, use the feedback as a guide.

· A decision to sell is a decision to meet the market. The reason why some properties sell and others don’t, is quite often a matter of the seller being realistic in meeting the market’s appraisal of the value of their property.

 

Have a great week!

 

Debbie Aldred

 

 

Property Prices On The Up in North Rodney- Let’s Get Excited!

Lots of things to be positive about up and around the North Rodney area!

House prices around our little neck of the woods increased faster than in Auckland last year, according to the latest figures from the Real Estate Institute of New Zealand.

The figures show that between December 2014 to December 2015, the median sale price increased 15 per cent in North Rodney, compared with a rise of 13.6 per cent in Auckland.

In North Rodney, the median sale price increased by $85,125 from $550,875 to $636,000, compared with a $92,000 rise in Auckland, from $678,000 to $770,000.

 

 

Price increases are clearly being driven by more people wanting to make their move to the region and the obvious lack of supply of land and housing locally. Supply and demand will always be the major factor in real estate values. Everyone seems to want a piece of our beautiful lifestyle, and why not? It seems that particularly the buyers from the Auckland region have an absolute obsession in wanting to get into the area; we have been inundated with families trying to find a home to buy since we opened the office last week. It is all about the quality of lifestyle…besides who doesn’t love a wine on a stunning beach!

 

 

The bottom line is unless the Auckland Council is able to make more suitable land available for development, prices will continue to climb. Good news for Sellers, but if you are a Buyer, time to make decisions! With the world economy getting ready to rock a little, who knows what lies ahead for 2016? Pass me another glass darling! 

Getting to know Debbie Aldred

Thank you for taking the time to check out my new Blog page, Rodney Property Pulse.

 

My goal is to provide you with quick, easy read updates on the Rodney Property Market. These updates will be based on my observations while out and about doing what I do best...selling real estate. This involves speaking with real people; real sellers, real buyers, real landlords and real tenants. I will also attach local news articles, market reviews, and newsy local articles that you will genuinely find interesting.

I guess the big question is…just who is this Debbie Aldred, who seems to have just blown into town? Hopefully this little article will give you the answers!

 

Yes, I am the fresh face in real estate around the Rodney District. In saying that, my family have lived here for the past 20 years, so I am certainly not new to the area! I was actually bought up on farms in Dairy Flat, and after my sisters and I left home, my parents, John and Judy Carmichael, moved to Matakana.

I recently returned permanently home to New Zealand after spending several years in Cairns, Queensland, Australia. Real estate has always been a major part of my life having been born and raised by a family of property investors. I purchased my first property of many in Cairns at 17 years of age and always dreamed of being a real estate agent…I was just waiting to grow up I guess...   

I have enjoyed a most interesting and challenging life, both professionally and personally. A wife and proud mother of 4 gorgeous sons; I am an avid property renovation and restoration expert. I have owned several truck and courier transport businesses, had a career in fashion design and manufacturing, modelling, interior decorating, landscape design, and an underwater diving instructor. I was a Justice Of The Peace in Queensland for some 15 years and a keen Barramundi fisherman and writer for various recreational fishing magazines. I became one of the youngest females in Australian history to become a Grade 1A Marine Captain aboard multi-million dollar prawn vessels working in a male dominated industry in northern Australia. So you see…I will try my hand to anything!

 

 

 

 

 

 

I now reside on my Mum's estate of ‘Tongue Farm’ in beautiful Matakana with my partner, Les Marsh. We are here to ensure Mum never has to leave the farm when she gets old (if she ever does!). Cattle and sheep, for those who will ask the question.

 

We have just finished a restoration of our beloved yacht, ‘Shadow’ and love to go sailing and fishing in Kawau Bay whenever we can. Les and I are both involved with the Sandspit Yacht Club too.

 

Now…the real estate side of things!

I have been an elite level residential and marketing professional in Australia for some 16 years. I have a pretty impressive record of listing and selling property, and am proud to have an excellent reputation for impeccable vendor and client services. Since beginning my real estate career in Queensland with Ray White, I have consistently been one of Queensland's top 1% of performing salespeople and previously ranked in the Top 100 in the world under the RE/MAX banner. I was Principal and owner of two Ray White offices from 2006 with a team of 28 specialising in residential sales and property management. We sold the businesses in preparation for our move back to New Zealand and joined the RE/MAX Group in Cairns in 2013. Click below to see my Cairns promo video:(p.s. I hate talking to cameras!)

 

 

 

 

Through my extraordinary life and experiences, I have developed a distinct ability to be able to really understand and listen to the individual needs of my clients. I see my role in real estate as a solver of problems and consultant. The sale of property is really a by-product from helping people. I can think quickly on my feet and, after dealing with an extremely stressed real estate market in Queensland during the Global Financial Crisis, I pride myself on having the creative ability to reinject enthusiasm into properties that have gone stale on the market for one reason or another. I have always pushed sale prices to new heights by challenging market conditions in the quest to get the highest prices possible for my clients. In the past 10 years, I have come across from Australia regularly to train with elite New Zealander real estate agents. Your New Zealand market cycle always seemed to be running at least 6 months ahead of ours in Queensland so I was always back on one foot ready for market changes.  I have been told a thousand times, I am a work-alcoholic. I eat, sleep and breathe real estate; always have, always will.

 

 

Why do I work under the RE/MAX brand? That is simple. After working with other real estate brands, there is no comparison in my mind. Operating since 1973, the RE/MAX network has over 100,000 agents in nearly 100 countries. RE/MAX China is among the dominant regions, and it will take countries like New Zealand into an exciting new frontier. The global.remax.com property search site has helped connect this powerhouse network even more closely, offering buyers a central place to search for listings in dozens of countries, in their own language and currency. What does this mean for our Sellers? Your property is exposed to over 100 different nationalities with over 100,000 real estate agents being able to refer buyers to your property. That’s powerful! Click on the picture below and check it out:

 

 

 
RE/MAX, by the way, is an abbreviation for 'real estate maximums'. RE/MAX is run by a New Zealand master franchise with truly, a wonderful corporate team; more like a family. The brand is built with an agent-centric approach, designed to attract and retain the best-performing and most experienced agents. I have huge flexibility in the way I run my business. I do not have advertising quotas to fulfil like many other brands, I am an Independent Contractor and have the freedom to be creative in every aspect of selling properties.

I am proud to have joined up with the Re/Max Realty Group in Warkworth; independently owned and operated by well- known local identities, Ben and Nola Kloppers. Was I excited to see the RE/MAX office open in Warkworth?...You bet Great things happen when driven individuals come together and treat real estate as a profession. And that, in a nutshell, is why I am with RE/MAX.

You'll find our brand new office on Baxter Street in Warkworth, opposite the library. Enough about me, I want to hear about you! Feel free to drop in and introduce yourself any time. I would love to meet you!

 

Cheers for now!

Debbie Aldred
021 406 967